How is that Paypal gets away with having a customer service system completely unreachable by humans?
banks
WaMu's Support System Is Really Pathetic
By 3.16.07
Looks like even if WaMu’s Consumer Lending Department isn’t closed, they still have no clue what they’re doing. After La Boy transferred money from his Bank of America Account to his WaMu, he was essentially accused of trying to steal from himself. It took numerous calls to Washington Mutual to get it resolved, and most reps were more interested in passing the buck than resolving the issue.
WaMu Unstrands Credit Card Theft Victim
By 3.16.07
Marty, the traveler stranded overseas after his credit cards were stolen and Washington Mutual refused to help him, has a happy update to his blog. The morning after he posted his blog entry, Rosie from WaMu Executive Customer Service called him. She apologized profusely for the poor level of customer service and stepped in to resolve his problem with speed. WaMu removed all the fraudulent charges, save 29 cents.
Why Don't Banks Offer Padayesque Loans, Just With Lower Interest?
By 3.15.07
Credit Slips digests a recent article in the Journal of Economic Perspectives on Payday Loans. The article’s answer to why banks don’t offer low-cost, short-term, unsecured loans is that banks find fees, like from bounced checks, more profitable. Bob Lawless disagrees, offering this alternative explanation:
Verizon: "No, We Won't Suspend Service," Suspends Service
By 3.14.07
Verizon accidently charged Michelle $480 for nights and weekends that should have been free; correcting the problem was a nightmare. Michelle worried the erroneous charges would be deducted from her account through Verizon’s autopay. Verizon told her to cancel autopay and assured her no money would be withdrawn, even though her online account showed a pending charge. Two days later, worried about the charge that was still pending, Michelle tried to stop the payment through Verizon; she was referred her to the bank, which promptly sent her back to Verizon.
Are Minors Responsible For Their Credit Card Debts?
By 3.14.07
We’ve had a couple of different people ask recently if one is responsible for credit card debts made as a minor. See, people under 18 aren’t supposed to get credit cards (unless an adult cosigns). Now, some of these people lied about their age to get the cards. That’s fraud. Fraud is bad. Don’t do it.
Contact WaMu Executive Customer Service
By 3.14.07
If you have a burning problem, say you’re stuck overseas with your credit cards stolen and no one at Washington Mutual will help you, these are the cats to contact:
Smart Banking Roundup
By 3.13.07
“It all depends on how fast you report it; the sooner the better, and if you wait too long, you’re totally screwed.”
Two Years Later, WaMu Unable To 'Integrate' Acquired Card Division's Support System
By 3.12.07
Here’s some insight into why WaMu was screwing Marty so hard last week when he had his credit cards stolen overseas. If you recall, Marty canceled all his cards but still saw $5800 in fraudulent charges rung up on his WaMu card. When he called, WaMu was most unhelpful, refusing to help him as the “Consumer Lending Department” was closed for the weekend.
Phishing Scams More Costly Than Bank Robbery
By 3.12.07
The amount of money taken typically is fairly small and will not dent a bank’s bottom line. Further, bank robbers are apprehended in almost 58 percent of cases, according to Federal Bureau of Investigation statistics. Only murder has a higher rate of clearance by arrest.
So what do banks worry about? Phishing scams.
How Credit Cards Could Be Nicer
By 3.12.07
With the Senate’s recent interest in bringing credit card companies to task for their ridiculous fees and policies, ConsumerAffairs has a few suggestions for banks to become more consumer friendly:
WaMu Screws Customer Stranded Overseas After Credit Cards Stolen
By 3.9.07
Marty was stranded in Greece after his credit cards got stolen on the metro. He called WaMu to cancel his cards and then when he tried to confirm they were closed, he got transferred from department to department. In the meantime, thieves continued to run his bill up to $5800. Marty’s cellphone minutes continued to drain. No one could help him because the Consumer Lending Department “was closed over the weekend.” WaMu must believe that identity theft is only committed during the weekday.
Debit Card Stolen, How Much Are You Liable For?
By 3.9.07
Federal law limits your liability to $50 if your credit card is stolen, but what about your debit card? It all depends on how fast you report it; the sooner the better, and if you wait too long, you’re totally screwed.
How About 5.3% Interest On Your Savings?
By 3.9.07
Consumerism Commentary has an update on the current online checking and savings rates.
Senate Hearing Attacks Credit Cards' Ridiculous Fees
By 3.8.07
A Senate hearing today called up executives in the credit card industry to defend their anti-consumer practices, their explanations provoking laughter from the crowd.
Citigroup Stops Using Universal Default
By 3.6.07
Citigroup announced it will stop using the “Universal Default” clause for credit card borrowers, which should come as a surprising piece of good news for consumers.
Chase Deactivates Your Savings Account If You Don't Use It For 60 Days
By 2.13.07
If you don’t use your Chase online savings count for 60 days, it becomes deactivated. Which could be a big problem if you were counting on making a transfer to cover checks that you just wrote. What’s worse is that they don’t send you any notification that they froze your account. At least that’s how it goes according to reader Thomas’ complaint:
